Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an...More

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks...Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore

Charles Peabody, managing director of Compass Point Research & Trading LLC, gestures during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees...More

Charles Peabody, managing director of Compass Point Research & Trading LLC,...Charles Peabody, managing director of Compass Point Research & Trading LLC, gestures during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore

Charles Peabody, managing director of Compass Point Research & Trading LLC, smiles during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an...More

Charles Peabody, managing director of Compass Point Research & Trading LLC, smiles...Charles Peabody, managing director of Compass Point Research & Trading LLC, smiles during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an...More

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks...Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an...More

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks...Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an...More

Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks...Charles Peabody, managing director of Compass Point Research & Trading LLC, speaks during a Bloomberg Television interview in New York, U.S., on Thursday, Oct. 12, 2017. Peabody discussed the start of bank earnings season as he sees an earnings recession for the big banks in 2018 and 2019. Photographer: Christopher Goodney/Bloomberg via Getty ImagesLessMore